Arrowhead Pharmaceuticals (NASDAQ:ARWR) Given “Buy” Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a $60.00 target price on the biotechnology company’s stock.

Several other equities analysts also recently commented on ARWR. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, September 9th. Piper Sandler restated an “overweight” rating and set a $62.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 26th. Finally, B. Riley reissued a “buy” rating and set a $55.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.70.

Arrowhead Pharmaceuticals Stock Down 0.5 %

Shares of ARWR opened at $26.03 on Wednesday. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $39.83. The company has a current ratio of 6.74, a quick ratio of 4.65 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $3.24 billion, a PE ratio of -5.19 and a beta of 0.93. The business’s 50 day moving average is $20.05 and its 200 day moving average is $23.20.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Avoro Capital Advisors LLC lifted its stake in Arrowhead Pharmaceuticals by 3.9% in the second quarter. Avoro Capital Advisors LLC now owns 8,888,888 shares of the biotechnology company’s stock worth $231,022,000 after purchasing an additional 333,333 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Arrowhead Pharmaceuticals by 61.9% during the 2nd quarter. Millennium Management LLC now owns 529,251 shares of the biotechnology company’s stock worth $13,755,000 after acquiring an additional 202,280 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Arrowhead Pharmaceuticals during the 3rd quarter valued at $14,420,000. Bank of Montreal Can grew its position in Arrowhead Pharmaceuticals by 240.5% in the 2nd quarter. Bank of Montreal Can now owns 43,699 shares of the biotechnology company’s stock valued at $1,202,000 after acquiring an additional 30,866 shares during the last quarter. Finally, Privium Fund Management B.V. lifted its position in shares of Arrowhead Pharmaceuticals by 16.2% during the third quarter. Privium Fund Management B.V. now owns 333,356 shares of the biotechnology company’s stock worth $6,457,000 after purchasing an additional 46,420 shares during the last quarter. 62.61% of the stock is owned by hedge funds and other institutional investors.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.